This episode of STRonomics is proudly sponsored by MarketMySTR.com, the leading marketing platform for STR Industries.Link to PDF: https://www.strinsights.com/top-investable-short-term-rental-markets-2024-reportIn this episode of STRonomics, Kenny and Bill share details about the new 'Investable Markets PDF'. The report is a comprehensive analysis of the best markets for investment in the vacation rental industry. They discuss the methodology behind the report, which emphasizes the importance of 'investable cash'. Kenny shares details about the dynamics of each market and the potential returns for investors. The conversation ends with Kenny sharing how to access the report on the STR Insights website.00:01 Introduction and Welcome00:03 Discussing the Most Investable Markets PDF00:30 Exploring the Report's Unique Approach00:57 Understanding the Importance of Investable Cash01:14 Unveiling Unknown Investment Markets01:37 The Strategy Behind the Report02:03 The Real Estate Investment Journey02:18 The Evolution of Market Valuation02:44 Exploring Top Picks and Surprises03:19 Deep Dive into Beckley, West Virginia Market06:08 The Appeal of Secondary and Tertiary Markets08:18 Unpacking the Top 10 Markets for Different Investment Levels15:33 Exploring the Top 10 Beach Markets18:30 Revealing Kenny's Top 10 Picks22:43 Conclusion and Wrap UpWe handle the day-to-day tasks of your short-term rental, giving you the freedom to grow your business and focus on the things that matter most. In the dynamic landscape of short-term rentals, success lies in the details. At STR Super VAs, we bring expertise to every facet of your business, ensuring those details are meticulously managed. Click here to learn more about how you can integrate VAs into your business! https://www.strvas.com/Watch this podcast each Thursday on our YouTube Channel: https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kASTR Data Hosts Facebook PageInstagram: Kenny_BedwellYou can find more of Bill online at:Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share&ltsid=660cbc9b-4a7e-4ed9-a654-900180b83af1Build STR Wealth: https://buildstrwealth.com/Instagram: @BillFaeth73Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices

STRonomics hosts discuss predictions for short-term rental investors in 2024, including the impact of interest rates, the economy, and elections. They also touch on booking lead times and the gradual return to normalcy in tourism. They caution potential investors to thoroughly scrutinize property deals and consider long-term plans. The podcast emphasizes the importance of finding properties that offer cash flow and appreciation, investing in secondary markets, and avoiding cookie-cutter properties.

This episode is Sponsored by MarketMySTR.com the STR Industries #1 marketing platform.In this episode of STRonomics, hosts discuss the business strategy called 'The Pumpkin Plan' and its application in the Short-Term Rental (STR) business. The hosts analyze the strategy that starts from selecting the right seeds (properties) to nurturing and growing the business with meticulous care which can be equated to spritzing, ensuring their continuous growth, and killing or trimming away the ones that are not growing. They also emphasize the importance of uniqueness in this competitive field and how it helps to understand the target audience better for maximum returns. The hosts further discuss how marketers need to adopt these strategies according to the shift in the market trends, leaning towards either high-end or low-end properties, leaving the conventional middle-market path.00:00 Introduction and Christmas Sweater Fun02:34 Revisiting the Mastermind Meeting03:30 Applying the Pumpkin Plan to Short Term Rentals06:48 Understanding the Importance of Targeting Specific Guest Avatars13:59 The Importance of Nurturing and Maintaining Your Properties18:05 The Shift in Mindset for Property Picking20:23 The Middle Road is Disappearing22:35 Conclusion and Look AheadWatch this podcast each Thursday on our YouTube Channel: https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kASTR Data Hosts Facebook PageInstagram: Kenny_BedwellYou can find more of Bill online at:Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share&ltsid=660cbc9b-4a7e-4ed9-a654-900180b83af1Build STR Wealth: https://buildstrwealth.com/Instagram: @BillFaeth73Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices

Industry experts discuss the challenges of short-term rental investment, importance of evaluating markets, analyzing investment goals, discovering new markets, and exploring hidden gem real estate markets.

This podcast discusses key aspects of revenue management in short-term rentals, emphasizing the importance of conversion rates, competitive pricing, and listing optimization. They stress the need for constant evaluation and improvement, as well as the impact of property quality and amenities on conversion. The speakers also discuss the challenges of tracking conversion rates and the importance of market analysis in maximizing revenue.

This episode is Sponsored by MarketMySTR.com the STR Industries #1 marketing platform.In this episode of STRonomics, hosts Bill Faeth and Kenny Bedwell, founder of STR Insights, discuss the importance of understanding one's 'why' in the realm of property investment and the role of coaching in their respective careers. They share their personal experiences and motivations, emphasizing the act of giving to enrich others' lives and the fulfillment it brings. They also talk about developing confidence through community and shared experiences. The episode concludes with a reminder for listeners to create their team of specialists and the importance of figuring out the deeper reasons that drive their 'why'.00:00 Introduction and Casual Banter01:41 Understanding the 'Why' Behind Our Actions02:53 The Importance of Knowing Your 'Why' in Property Investment04:19 The Journey to Starting STR Insights08:10 The Impact of Mastermind Groups and Community11:23 The Birth of STR Insights14:22 The Value of Collaboration and Shared Expertise24:52 The Importance of Not Going It Alone26:19 Conclusion: The 'Why' Before the 'Why'Watch this podcast each Thursday on our YouTube Channel: https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kASTR Data Hosts Facebook PageInstagram: Kenny_BedwellYou can find more of Bill online at:Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share&ltsid=660cbc9b-4a7e-4ed9-a654-900180b83af1Build STR Wealth: https://buildstrwealth.com/Instagram: @BillFaeth73Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices

This episode is Sponsored by MarketMySTR.com the STR Industries #1 marketing platform.Watch this podcast each Thursday on our YouTube Channel: https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kASTR Data Hosts Facebook PageInstagram: Kenny_BedwellYou can find more of Bill online at:Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share&ltsid=660cbc9b-4a7e-4ed9-a654-900180b83af1Build STR Wealth: https://buildstrwealth.com/Instagram: @BillFaeth73Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices

Experts discuss challenges of investing in short-term rentals. Attracting guests in off season with amenities like heated pools, hot tubs, fireplaces, hot chocolate, and fuzzy blankets. The allure and safety of fireplaces in winter rentals. Adjusting property amenities and design to attract off-season guests. Changing pricing strategies to attract off-season guests.

This episode is Sponsored by MarketMySTR.com the STR Industries #1 marketing platform.We handle the day-to-day tasks of your short-term rental, giving you the freedom to grow your business and focus on the things that matter most. In the dynamic landscape of short-term rentals, success lies in the details. At STR Super VAs, we bring expertise to every facet of your business, ensuring those details are meticulously managed. Click here to learn more about how you can integrate VAs into your business! https://www.strvas.com/Watch this podcast each Thursday on our YouTube Channel: https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kASTR Data Hosts Facebook PageInstagram: Kenny_BedwellYou can find more of Bill online at:Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share&ltsid=660cbc9b-4a7e-4ed9-a654-900180b83af1Build STR Wealth: https://buildstrwealth.com/Instagram: @BillFaeth73Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices

This episode is Sponsored by MarketMySTR.com the STR Industries #1 marketing platform.Topic: Underwriting for Short-Term Rentals: Emphasis on the need for diligent underwriting in the current market. Highlighting the importance of the Debt Service Coverage Ratio (DSCR) in underwriting. Key Takeaways:1. Proper Underwriting:Overestimating revenue and underestimating expenses can lead to costly mistakes in short-term rental investments.2. Expense Estimation: Typically, expenses range from 35% to 50% of gross revenue, depending on the market. Underestimating expenses can result in inaccurate projections. 3. Granularity in Calculations: Standard calculators lack the detail needed for accurate underwriting. Advanced performance calculators help identify issues in specific expense categories. 4. Hidden Expenses:Expenses like insurance, utilities, and climate-related costs can be overlooked but are crucial.5. Market-Specific Expenses:Expenses vary by market; consider factors like snow plowing and trash collection.6. Interest Rate Impact:Changing interest rates can affect mortgage expenses, so stay updated on current rates.7. Set-Up Time and Costs:Factor in the time and costs required to prepare the property for guests, including travel expenses.8. Annual and Legal Fees:Include fees for LLC renewals, legal matters, taxes, and miscellaneous costs in projections.9. Tech Fees:Account for technology fees associated with property management, pricing tools, and marketing.10. Conservative Projections:- Overestimate expenses by 10% and underestimate revenue by 10% in your pro forma calculations for a more conservative outlook.We handle the day-to-day tasks of your short-term rental, giving you the freedom to grow your business and focus on the things that matter most. In the dynamic landscape of short-term rentals, success lies in the details. At STR Super VAs, we bring expertise to every facet of your business, ensuring those details are meticulously managed. Click here to learn more about how you can integrate VAs into your business! https://www.strvas.com/Watch this podcast each Thursday on our YouTube Channel: https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kASTR Data Hosts Facebook PageInstagram: Kenny_BedwellYou can find more of Bill online at:Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share&ltsid=660cbc9b-4a7e-4ed9-a654-900180b83af1Build STR Wealth: https://buildstrwealth.com/Instagram: @BillFaeth73Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices